Overview

The project will build 135 workforce housing apartments on an abandoned 4 acre brownfield site in the heart of Goshen. The City has no capacity in its CSO system to absorb stormwater runoff from this site. As a result, all stormwater must be absorbed on site through multiple types of stormwater management systems, including green infrastructure, underground storage facilities and permeable hardscape. Readi funds will be spent on site infrastructure including engineering and design, lot development, water service, sanitary sewer, storm water sewer, lot paving, concrete (curbs, sidewalks, etc), landscaping and other amenities. 2.) Construction will start 3/1/2023 and be complete by 9/30/2024. 3.) The City has approved the issuance of a project based TIF bond In the approximate amount of $4.5 million (100% pledge of TIF for 25 years). The City has also committed to investing approximately $3 million in off-site improvements, including a public parking lot adjacent to the north of the project and the complete rebuild of East Douglas Street on the east side of the project. 4.) Success will be measured by the number of workforce housing apartments built = 135; New residents estimated at full lease-up at 204 residents of which 73 (36%) may be minority. Essential Workers housing goal of 20% of the units would provide 27 units for essential worker households.